Guo Weimin:

Thank you. Now, it's time for questions. Please identify the news organization you represent before asking questions. Simultaneous interpretation service is provided at today's press conference, and if you ask questions in English, we will provide translations on the spot. Let's start.

CCTV:

Question goes to Mr. Wang. Recently senior American officials accused China of "backtracking" that led to the stagnation of the negotiations. What's your comments on that? Sources also said that China deleted some of the draft text of the agreements, which led to the breakdown of the negotiations. Is it true? Thanks.

Wang Shouwen:

Thank you. China has always showed our full sincerity toward the China-U.S. trade talks. It is irresponsible for the U.S. to accuse China of "backtracking" during the consultations. This is mud-slinging. During the consultations, and before reaching an agreement, everything we put on the table is only a discussion; there is no so-called "backtracking" since there is no deal yet. There is a saying on consultations, that "Nothing is agreed until everything is agreed." Last December, China and America's presidents reached an important consensus during their meeting in Argentina that economic and trade frictions will be resolved through consultation, with the ultimate objective of removing all tariffs imposed by the two sides. China is committed to the presidential consensus in the interest of China-U.S. economic and trade relations. China has always kept reasonable, exercised restraint and showed its full sincerity and kindness when responding to the concerns of the United States.

On many issues raised by the U.S. side during the consultations, China has overcome difficulties and come up with practical measures. However, when you give the U.S. an inch, they'll want a yard. The U.S. side insisted on unreasonably lofty requests. They insisted that some requirements that interfere with China's sovereignty should be included in the agreement. They also insisted that all tariffs imposed since the trade frictions started should remain in place. They also put pressure on China by raising the rate of tariffs, leading to the escalation of the bilateral economic and trade friction and the severe setback on the consultation. All of us can tell from the facts which side should be responsible for the current status of the negotiations.

China always stresses that consultations should be based on mutual respect, equality and mutual benefit, and the two sides should meet each other halfway. By saying mutual respect, it means that each party should respect the other's sovereignty and core interests. We hope the U.S. can meet China halfway. With mutual understanding, both sides should compromise, instead of asking only one side to compromise. Equality and mutual benefit means that the two sides are on an equal footing and the results of the consultation should be beneficial to both sides. If one side doesn't respect the other side's sovereignty and core interests and tries to force the other side to compromise, negotiations cannot succeed. It is futile for the U.S. to exercise extreme pressure and other ways to escalate the trade frictions to force China to compromise. Thanks.